In the matter of Denham Constructions Pty Limited [2016] NSWSC 948

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Denham Constructions Pty Limited [2016] NSWSC 948 Hearing dates: 20 June 2016 Decision date: 20 June 2016 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order that the applicant in the Interlocutory Process filed 30 May 2016 be substituted as applicant in these proceedings under s 465B of the Corporations Act 2001 (Cth). Order that costs of and incidental to this application be reserved. The Court notes that, from the date of the substitution order made today, the applicant is to be treated as a person who applies under s 459P for the Defendant to be wound up, for the purposes of s 465A of the Corporations Act 2001 (Cth). Catchwords: CORPORATIONS — Winding up — Application by creditor for substitution as applicant in winding up proceedings against the defendant company – where creditor that commenced winding up application against company was not proceeding with its application – where company opposed substitution application on the basis that the applicant had refused tender of cheque for payment of the company's debt by a secured creditor of the company – whether applicant acted unreasonably in refusing tender of the cheque in circumstances where the payment might later be set aside as an unfair preference – whether substitution order should be made under s 465B of the Corporations Act 2001 (Cth). Legislation Cited: - Corporations Act 2001 (Cth), ss 459P, 462, 464, 465A, 465B Cases Cited: - Earthwave Corporation Pty Ltd v Starcom Group Pty Ltd [2011] NSWSC 694 - In the matter of Denham Constructions Pty Limited [2016] NSWSC 768 - Re C2C Investments Pty Ltd [2012] NSWSC 1443; (2012) 92 ACSR 266 Category: Procedural and other rulings Parties: CSR Building Products Limited (Plaintiff) Denham Constructions Pty Limited (Defendant) Representation: Counsel: B Katekar/P Santucci (Defendant) A Hack (Workers Compensation Nominal Insurer – Supporting Creditor) Ms Wong (Deputy Commissioner of Taxation – Supporting Creditor) P Hunt (5G Capital SPV27 Pty Ltd – Interested Party) H Collins (A Murray & Sons Pty Ltd – Applicant)